Bigger the Price Better the Quality: Myth or Reality?
HIGHER THE COST, BETTER THE COFFEE QUALITY
Is it a Myth or Reality?
Survey Overview: Each of our survey has already established 94 answers based on which will we've derived various results on how the chemistry among prices and quality work when choosing a product or service. We carried out a survey monitoring above 4 main sectors of regular application in our lives, these people being FMCG, Apparels, Consumer Durables including Laptops and Mobiles. Result Analysis (Based on Grow older Groups)
FMCG industry: Younger age group inside the bracket of 18-24 include aligned selling price and quality on the same part. Given the overall perceptions existing in the youthful minds, in this category plus the age group, higher the price means higher quality. 2 weeks . lesson for the companies to discharge products with market or perhaps above industry prices to carve a distinct segment qualitative placement in the market. To get the more mature age group (25 and above), the reactions, though fewer, were approximately along similar choices. Possibly for the matured age bracket, a better product is perceived to become priced higher in comparison. Clothes Industry: From this sector, regardless if higher prices have once again signalled better quality in the minds of 18-24 year olds, there is a distinctive preference of brands for some. There was a deep evaluation of the rates and quality factor among Levi's and Flying Machine which equally ended up close in almost every component. Similar lessons for corporations in the attire sector since the FMCG sector adding price and quality directly proportional to one another. For the age group over 25, the apparel sector pointed toward starkly contrasting results. Right here, it is the quality aspect of the item that seems much more important than any kind of brand loyalty or price. Even if some believe Levi's is the more pricey of the alternatives, Flying Machine was regularly analysed to be a product of better repute regarding quality. Customer Durables: With this sector, intended for the presumed age group effects point towards brand loyalty and technical specs of...
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